The trouble with referendums

Excellent analysis of the 3 answers problem for the referendum.


How a democratic process can lead to consequences of a questionable democratic character

People are a motley crew, really. Every one of us has their own set of preferences. Thankfully the free market makes sure that someone offers exactly what we want – no matter how exotic or how obscure. We choose these products over here and those services over there, and thanks to the miracle of the market all these preferences are aggregated, and suppliers do whatever is needed to match their offer with what we consumers expect.

In a way, a democratic electoral system has a similar purpose: to combine the preferences of all the voters, and produce policies that represent the wishes of the entire electorate.

Unfortunately, elections don’t always deliver the goods (or services) in the way the market does.

To understand why, it’s a good idea to start with conventional micro-economics, which describes how rational…

View original post 1,771 more words


One comment

  1. […] is strong evidence to indicate that, given the choice between EU and Norway models the British public would have […]


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Nog's Musings

Brexit and other Mythical Creatures


An ongoing quest for wisdom

The one-stop site for "trailing spouses."

Interface Financial Planning

Live your life to the full and ensure that your money adds meaning to your life

Shane O'Mara

brains, behaviour, organisations

Flip Chart Fairy Tales

Business Bullshit, Corporate Crap and other stuff from the World of Work

Joining The Dots

by Anthony Allinson

%d bloggers like this: